GDO vs. PFRL
GDO (Western Asset Global Corporate Defined Opportunity Fund Inc) and PFRL (PGIM Floating Rate Income ETF) are both funds - GDO is a Corporate Bonds fund managed by Franklin Templeton, while PFRL is a Bank Loan fund actively managed by PGIM. Over the past 3 years, GDO returned 5.90%/yr vs 7.96%/yr for PFRL. Their 0.18 correlation means their historical movements had little consistent relationship. GDO charges 0.01%/yr vs 0.72%/yr for PFRL.
Performance
GDO vs. PFRL - Performance Comparison
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Returns By Period
In the year-to-date period, GDO achieves a -5.79% return, which is significantly lower than PFRL's 3.01% return.
GDO
- 1D
- 0.29%
- 1M
- -3.05%
- 6M
- -4.94%
- YTD
- -5.79%
- 1Y
- -0.15%
- 3Y*
- 5.90%
- 5Y*
- -1.17%
- 10Y*
- 3.67%
- ALL TIME*
- 4.67%
PFRL
- 1D
- 0.04%
- 1M
- 0.46%
- 6M
- 2.79%
- YTD
- 3.01%
- 1Y
- 5.65%
- 3Y*
- 7.96%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $426.35K | $402.60K | $326.75K | |
| $1.22M | $997.98K | $730.49K |
GDO vs. PFRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDO Western Asset Global Corporate Defined Opportunity Fund Inc | -5.79% | 18.25% | -0.79% | 10.39% | -4.34% |
PFRL PGIM Floating Rate Income ETF | 3.01% | 6.25% | 9.40% | 13.75% | 1.27% |
Correlation
The correlation between GDO and PFRL is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 24, 2022 | 0.18 |
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Return for Risk
GDO vs. PFRL — Risk / Return Rank
GDO
PFRL
GDO vs. PFRL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) and PGIM Floating Rate Income ETF (PFRL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GDO | PFRL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -4.10 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.63 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 4.52 | -4.54 |
| Martin ratioReturn relative to average drawdown | -0.04 | 15.34 | -15.39 |
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Drawdowns
GDO vs. PFRL - Drawdown Comparison
The maximum GDO drawdown since its inception was -34.61%, which is greater than PFRL's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for GDO and PFRL.
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Drawdown Indicators
| GDO | PFRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.61% | -8.83% | -25.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -1.25% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -8.83% | -4.35% |
Max Drawdown (5Y)Largest decline over 5 years | -34.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.61% | — | — |
Current DrawdownCurrent decline from peak | -6.36% | -0.23% | -6.13% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -0.42% | -6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 0.37% | +3.04% |
Volatility
GDO vs. PFRL - Volatility Comparison
Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) has a higher volatility of 1.90% compared to PGIM Floating Rate Income ETF (PFRL) at 0.57%. This indicates that GDO's price experiences larger fluctuations and is considered to be riskier than PFRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDO | PFRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 0.57% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 6.05% | 1.61% | +4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.25% | 1.97% | +6.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 4.78% | +7.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 4.78% | +8.50% |
GDO vs. PFRL - Expense Ratio Comparison
GDO has a 0.02% expense ratio, which is lower than PFRL's 0.72% expense ratio.
Dividends
GDO vs. PFRL - Dividend Comparison
GDO's dividend yield for the trailing twelve months is around 14.23%, more than PFRL's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDO Western Asset Global Corporate Defined Opportunity Fund Inc | 14.23% | 12.40% | 12.04% | 9.52% | 9.49% | 6.93% | 6.70% | 6.65% | 8.41% | 7.57% | 7.96% | 8.62% |
PFRL PGIM Floating Rate Income ETF | 6.48% | 7.34% | 8.96% | 9.84% | 3.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDO and PFRL have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDO has higher volatility (1.90%) compared to PFRL (0.57%). In terms of maximum drawdown, GDO dropped -34.61% vs PFRL's -8.83%.
PFRL currently has the higher Sharpe Ratio (2.89 vs -0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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